Yet another 'savings plan', slightly unique

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mhuk01
mhuk01 Posts: 121 Forumite
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edited 21 December 2012 at 3:33PM in How much have you saved?
Hey everyone

Its really interesting reading about everyone's plans to save money, and it's really encouraging that people are making it work.
Having read the stories of others I thought I'd share my saving goals: -

I'm 23 and currently have around £18000 saved. I aim to get this up to around £30000 by the end of the year, with the idea that in a couple of years a will have saved enough to lay down a deposit for a house.

I currently work on a cruise ship so my monthly outgoings are very small. I don't pay any rent, have no bills and only have to pay for food if I eat off the ship (usually 1-2 times a week). I realise I am in a unique opportunity where I can put most of my earnings (ie 80%) into a savings account with minimal effort on my part. Pretty much my only regular outgoings is money on alcohol, although even this is small thanks to crew prices like $1.20 for a bottle of Heineken!!

So thats my goal for the end of the year, hope some of you found this interesting!


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  • Ice_baby
    Ice_baby Posts: 24 Forumite
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    Hi
    I have to say that sounds almost like ideal conditions for savings. Do most people you work with save too?
    I used to work in kitchens and whenever I could eat my main meal & extras at work my outgoings shot down. But you have rent covered too which must be great.
    I wish you luck with your plans.
    Savings 586.58/8,000 7% (Target Jun 2013)
  • mhuk01
    mhuk01 Posts: 121 Forumite
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    Thanks - I think it's pretty much as good as it gets to save money. Most people I work with are saving quite easily too, although some more than others! You can still end up spending everything if you drink lavishly every night, eat out constantly in port etc.. But yeah food and bills are the two major savings i make. Although everything I earn is in USD so my salary is constantly fluctuating, and I have to pick good times to convert into GBP.

    Out of interest, what do the figures in your signature mean?
  • Ice_baby
    Ice_baby Posts: 24 Forumite
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    I'm trying to save up £8,000 to redo my kitchen and put in central heating (it's very approximate). I have saved a grand total of £256.86 and am 3% of the way there. It may take some time. :o

    Being paid in USD must be quite strange. Is the dollar-pound rate going your way at the moment?

    I guess not having to worry about food/rent would make you feel (comparitively) very rich indeed and it must encourage lavish spending. It certainly would in me. Good on you for managing to save so much.
    Savings 586.58/8,000 7% (Target Jun 2013)
  • dearbarbie
    dearbarbie Posts: 566 Forumite
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    Working on a cruise ship - that's a great idea!
    :A
  • Ches
    Ches Posts: 1,120 Forumite
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    Good luck with the saving. I am doing it the other way round. I have bought and paid for the house and now save like mad to get on the cruise ships. But as a passenger of course. :D:D
    Mortgage and Debt free but need to increase savings pot. :think:
  • Listerbelle
    Listerbelle Posts: 1,438 Forumite
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    About 15 years ago I had very serious plans to work on a cruise ship with my then partner who'd already been doing if for three years.

    My life took another route and eventually I became a medical doctor. I suspect that you'll be much "richer" than me financially, if you play your cards right.

    My cruise-related goal was to save nearly all my earnings to buy multiple rental properties...this was 15 years ago, prior to "everyone else doing it" :)

    I hope that it all goes well for you :)
    Your biggest asset is TIME! I'm focused on multi-generational financial freedom.
  • rubytuesday
    rubytuesday Posts: 22,383 Forumite
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    Good luck with that.

    Sounds like you are off to a fine start!

    By the way can something be 'slightly unique'?
    Here dead we lie because we did not choose
    To live and shame the land from which we sprung.
    Life, to be sure, is nothing much to lose,
    But young men think it is,
    And we were young.
    A E Housman
  • CKhalvashi
    CKhalvashi Posts: 12,063 Forumite
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    rubytuesday wrote: »
    Good luck with that.

    Sounds like you are off to a fine start!

    By the way can something be 'slightly unique'?

    I'm pretty sure that most things are 'slightly unique'.

    We all do the same things, just in a different way.

    CK
    💙💛 💔
  • mhuk01
    mhuk01 Posts: 121 Forumite
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    Thanks for the nice comments everyone. I've made it to around £22k so only another 8k to go by the end of the year!

    RE the title of this thread - maybe it should be 'slightly different' instead. Oh well excuse my bad grammar :)
  • rubytuesday
    rubytuesday Posts: 22,383 Forumite
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    You are excused!

    Well done!
    Here dead we lie because we did not choose
    To live and shame the land from which we sprung.
    Life, to be sure, is nothing much to lose,
    But young men think it is,
    And we were young.
    A E Housman
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